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The flooding was caused by thunderstorms, as opposed to cloud seeding, experts say.
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There is a high likelihood the property claim will be subrogated.
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
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The city alleges defendants knowingly allowed an “unseaworthy” Dali to set sail.
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As a result of mostly flooding, £474mn of losses occurred in the UK.
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Insurers in the emirate typically buy low-attaching reinsurance.
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This follows February’s cat losses coming in below the $150mn reporting threshold.
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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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UK property insurers paid out £4.86bn in property claims last year.
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The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.
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The recent Italian hail and Bernd losses show some companies are relying on outdated models.
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Tropical Storm Risk (TSR) has updated its forecast for North Atlantic hurricane activity, predicting a "hyper-active season" in 2024, with activity being around 70% above the 1991-2020 climate norm.